HACT launches retrofit credits pilot
To sign up for HACT’s initial pilot, using data from retrofit activities you have already carried out, you are required to sign up by 27 January 2023.
At SFHA’s recent Finance Conference, HACT’s Digital Lead, Michael McLaughlin, presented on the importance of social impact in our sector's ESG reporting.
One of the approaches discussed was the Retrofit Credit scheme, where, alongside carbon emissions, the outcomes of the people who live in the homes and communities where retrofit works are taking place are also central.
Retrofit credits will secure additional investment for the sector by demonstrating the value and importance of retrofit to residents’ lives and the environment, so housing providers can continue investing in homes and communities across the UK and meet their net zero ambitions
With estimates for the cost of retrofitting properties exceeding £50,000, the additional income from retrofit credits will enable housing retrofit to be deployed more widely, cost-effectively, and earlier than at present.
Initial calculations suggest the average social value return on a whole house retrofit to be £4,640 in social value/year or an average social value return of £1,592 per tonne of emissions reduced/year.
To sign up for HACT’s initial pilot, using data from retrofit activities you have already carried out, you are required to sign up by 27 January 2023.
To get involved, or to find out more, check out Retrofitcredits - HACT or get in touch with Michael.McLaughlin@hact.org.uk